Daily Management Review

Global airlines raise overall industry profit forecast for 2023


IATA: international airlines doubled forecast for industry profits in 2023.

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According to a press release from the International Air Transport Association (IATA), global airlines might report a net profit of $9.8 billion this year, nearly doubling the previous projection, with revenue expected to increase by 9.7 percent.

"Airline net income is expected to reach $9.8 billion in 2023, more than double the previous forecast of $4.7 billion (December 2022)," IATA emphasized. The sector had seen losses for the preceding three years in a row, amounting to $3.6 billion in 2022.

IATA projects that total revenue for the year will be $803 billion, up 9.7 percent from the previous year, and will reach $800 billion for the first time since 2019.

source: iata.org